Over two-fifths of non-retirees think their retirement savings is not on track, and having taken a loan or distribution, as well as discomfort with investing, lowers retirement confidence.
Broadening the focus of traditional, physically focused wellness programs to become more holistic (adding financial, social & mental well-being) is leading more employers to ask about a platform/hub to combine all of their benefits initiatives, a survey found.
Fifty-three percent of people with access to wellness programs said the initiatives have made a positive impact on their health, which can save both employees and employers money.
Projected retirement income can now be viewed at both the plan and participant level.
INSIDE THE MAGAZINE PLANSPONSOR February-March 2018
If there is a complete discontinuance of contributions in a profit sharing plan, including a 401(k) plan, the plan is treated as terminated for vesting purposes and affected employees must be 100% vested in their accrued benefit.
While employees are grappling with things like higher health care costs, financially supporting other family members and debt, a study from PwC finds they are not always taking the right steps to manage these issues and to invest and save for retirement adequately.
There is some lingering uncertainty about the role of smart beta institutional investing, as more than 50% of asset owners in the U.S. say they remain uncertain on the best approach for their particular purposes.
Tens of thousands of employers in the U.S. contribute to multiemployer pension funds that are in critical and declining status, collectively facing an unfunded liability well above $100 billion; Society of Actuary researchers warn of potential ripple effects should many of their plans fail at once.
The 6th Circuit noted that Firestone Tire & Rubber Co. v. Bruch, in which an arbitrary-and-capricious standard of review is required by the court if the plan “gives the administrator or fiduciary discretionary authority to determine eligibility for benefits or to construe the terms of the plan,” should have been used by the district court.
Data shows the majority of retirement plan sponsors have implemented what many call “best practices” for their retirement programs, but there are still some underutilized features that could help boost participant outcomes.
CalPERS CIO to leave fund; P-Solve rebrands to River and Mercantile Solutions; Trinity Pensions Consultants opens Indianapolis sales office; and more.
The district court’s new decision comes after its previous move denying defendants’ motion for summary judgment against plaintiffs’ claims, which cover a variety of fiduciary breach allegations; a new ruling is now forthcoming.
The suit challenges fees paid to provider TIAA.